Petros PACE Finance, an Austin, TX-based provider of long-term PACE financing to U.S. commercial property owners, closed on a $10m equity round.
The round was led by Alex Rodriguez and his investment firm, A-ROD Corp.
The company will use the funds for the continued nationwide expansion of Petros’ Commercial Property Assessed Clean Energy (C-PACE) financing business.
Led by Co-Founder and CEO Mansoor Ghori, Jim Stanislaus, Co-Founder and CFO, and and Tommy Deavenport, Petros is a financier of long-term capital for energy efficiency, renewable energy, water conservation, and seismic upgrades to commercial, multifamily and industrial properties in the U.S. It is also one of the specialty finance firms in the U.S. to dedicate all of its resources to the commercial PACE market nationwide.